America Movil to price €2.25 billion five-year bonds exchangeable into Koninklijke KPN

By Rebecca Melvin

New York, May 20 – Mexico’s America Movil SAB de CV plans to price €2.25 billion of five-year bonds exchangeable into shares of Koninklijke KPN NV that were being talked at a 0% to 0.5% coupon and a 40% to 45% initial conversion premium, according to a news release.

The Regulation S deal has a €225 million upsize option and was expected to price late Wednesday.

Deutsche Bank AG, London branch and Barclays Bank plc are acting as joint bookrunners.

The bonds are non-callable for 2.5 years and then are provisionally callable if shares exceed 130% of the conversion price.

The company plans to list the bonds on an internationally recognized stock exchange.

America Movil is a Mexico City-based telecommunications company.

Koninklijke is a Netherlands-based telecommunications company.

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